News Summary
Elaine Wynn, co-founder of Wynn Resorts, passed away at 82. Her will has been filed outlining estate plans, family trust beneficiaries, and appointing executors to manage her assets. Wynn, with a net worth of $2 billion, was a key figure in the casino industry and made significant charitable contributions. Her legacy includes support for education and the arts in Nevada, having served on the State Board of Education and dedicated funds to various organizations. The will confirms the dissolution of her marriages and ensures clarity in the distribution of her wealth.
Las Vegas, Nevada – Elaine Wynn’s Will Filed Following Her Death Revealing Estate Plans and Legacy
Elaine Wynn, co-founder of Wynn Resorts, who passed away in April at the age of 82, had her will filed in Clark County District Court on June 5, 2023. The document, signed on May 24, 2016, outlines instructions for her estate, which is to be transferred to a family trust. The beneficiaries of this trust are not named in the will. The legal document includes a clause that will revoke any beneficiary’s share should they contest its provisions, ensuring a clear directive for the distribution of her assets.
Forbes estimated Elaine Wynn’s net worth at $2 billion, making her one of the wealthiest individuals in the casino industry. Notably, the will also serves to confirm the dissolution of her two marriages to billionaire casino developer Steve Wynn. Together, they have two daughters, Kevyn and Gillian Wynn, who are beneficiaries of the family trust as outlined in the will.
Executorship and Management of the Estate
Elaine Wynn appointed her daughters, along with Andrew Pascal and Robert Kotick, as co-executors of her will. This appointment grants them the authority to manage her estate, allowing for the sale of assets, borrowing against the estate, and covering legal and accounting fees with estate funds. Andrew Pascal is a former executive at Wynn Resorts and currently serves as the CEO of PlayStudios. Robert Kotick, a figure recognized for his tenure as the CEO of Activision Blizzard, is closely connected to Elaine Wynn’s family, further adding to the trust placed in him by Elaine.
Ownership and Contributions to Wynn Resorts
Elaine Wynn held approximately 9% of Wynn Resorts stock, making her the third-largest shareholder in the company. Her commitment to the company’s success was mirrored by her involvement in larger philanthropic endeavors that have shaped the Las Vegas community.
Elaine Wynn’s Philanthropic Efforts
Throughout her life, Elaine Wynn contributed significantly to various charitable causes, particularly in education and the arts. In 2023, her Elaine P. Wynn and Family Foundation reported nearly $5.7 million in contributions, gifts, and grants. Some of her notable philanthropic commitments included:
- $1.3 million to Communities In Schools of Nevada
- $700,500 to Nathan Adelson Hospice
- $525,000 to Three Square Food Bank
- $380,000 to Nevada Ballet Theatre
- $287,700 to The Smith Center for the Performing Arts
Impact on Education and Community
Elaine Wynn’s influence extended well beyond her work in the casino industry. She was a prominent advocate for educational initiatives in Nevada, having served on the State Board of Education and played a crucial role in educational reform efforts. Her commitment to supporting public education was complemented by her history of donating to political campaigns, notably backing Democratic candidates and causes in her community.
Conclusion and Legacy
Elaine Wynn died at home in Los Angeles after a brief illness, surrounded by family. Her legacy is marked not only by her contributions to the growth of Las Vegas as a significant entertainment destination but also through her philanthropic works which impacted countless lives. While her will sets the course for her estate, Elaine Wynn’s broader impact on her community and the fields of education and the arts will continue to resonate for years to come.
The law firm McDonald Carano filed her will in court; however, they did not respond to inquiries for comments. Efforts to reach her daughters and the appointed executors were unsuccessful.
Deeper Dive: News & Info About This Topic
HERE Resources
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Additional Resources
- Las Vegas Review-Journal: Elaine Wynn’s Will Filed
- Town & Country: Elaine Wynn and Home Photos
- The Nevada Independent: Elaine Wynn’s Passing
- Travel Weekly: Elaine Wynn’s Impact on Las Vegas
- Reno Gazette Journal: Elaine Wynn Dies at 82
- Wikipedia: Elaine Wynn
- Google Search: Elaine Wynn
- Google Scholar: Elaine Wynn
- Encyclopedia Britannica: Elaine Wynn
- Google News: Elaine Wynn
